Crypto mania continues to tighten its hold on hip-hop as more and more jump on the blockchain wave in the hopes of a big payday. Just a week after Eminem reportedly pulled down almost $2 million selling a collection of NFTs and Nas purportedly made out like a bandit thanks to early investment in the cryptocurrency exchange platform Coinbase (prompting him to dub himself the “Cryptocurrency Scarface” on DJ Khaled’s “Sorry Not Sorry”), Meek Mill has joined in the feeding frenzy, buying $50,000 worth of the meme currency Dogecoin as prices rise in the wake of increased media coverage (but not scrutiny).
The rise was precipitated by this year’s flurry of coverage of the Reddit-shorted GameStop stock, as offshoots of the movement turned their focus to Dogecoin (“To the moon!”), like a rabbit hole with enticing lighting strewn up around it. After Elon Musk and his cultis– er, fans — sent the price flying thanks to a tweet from the SpaceX mogul, it looked like Dogecoin might actually be worth something, and noticing this Meek felt a fierce case of FOMO.
“I just grabbed some doge I’m tired of missing out,” he said on Twitter. Meanwhile, on Instagram, he posted a screenshot revealing both his investment — $50,000, or the price of a midsize sedan, or more than many Americans make in a year, depending on how you look at it — and his chronic misunderstanding of investment practices (buy low, sell high, Meek!).
I just grabbed some doge I’m tired of missing out
— Meek Mill (@MeekMill) May 4, 2021
#MeekMill just copped $50k worth of #Doge 😱👀 Is it a smart move??? pic.twitter.com/GaziU1dVqo
— My Mixtapez (@mymixtapez) May 4, 2021
We’ll see if it works out for him but for now, it looks like he’s another person who’s bullish on cryptocurrency and betting he can cash out before the casino closes.